Future Prospects of Global Laboratory Proficiency Testing Market

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Laboratory Proficiency Testing Market  The global Laboratory Proficiency Testing Market is estimated to be valued at US$ 1.29 billion in 2023 and is expected to exhibit a CAGR of 7.3% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights. Market Overview: Laboratory proficiency testing involves evaluating the performance of laboratories for a given scope of testing through inter-laboratory comparisons. It helps assess the quality and competence of laboratories by determining reproducibility and accuracy of test results. Proficiency testing products are used by laboratories to determine method validity and accuracy, and improve testing processes. Market Key Trends: One of the major trends in the laboratory proficiency testing market is the growing number of accredited medical laboratories. Accreditation assures compliance with ISO 15189 and ISO/IEC 17025 standards, which require participation in proficiency testing programs. Accordi
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Ammonium Ferric Citrate Market Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

Ammonium ferric citrate is a water-soluble, reddish-brown chemical with a faintly ammonia-like odour. The powder version of the chemical is used as a food additive for controlling and regulating acidity. Ammonium ferric citrate, unlike ferric citrate, is very soluble. Because the chemical contains iron, it can be used as a dietary supplement. It's made by combining ferric hydroxide with citric acid, then treating it with ammonium hydroxide, then evaporating and drying it. The end product is either a brown compound containing 16-18% ferric ammonium citrate and iron, or a greenish compound containing 14-16% iron.

Market Dynamics

Water purification, as a reducing agent, blueprinting, medical therapy, as a food additive in animal feeding, and photography are just a few of the applications for ammonium ferric citrate. Increasing demand for ammonium ferric citrate in a variety of end-use sectors, including pharmaceuticals, food and beverage, wastewater treatment, and printing, is likely to drive the global ammonium ferric citrate market forward. The pharmaceutical sector is booming thanks to rising ailment rates brought on by pollution and a sedentary lifestyle. Furthermore, the food and beverage industry's revenue is being boosted by consumer demand for convenience foods and changing eating habits.

 

Ammonium Ferric Citrate Market
Ammonium Ferric Citrate Market

Market Outlook

The Asia Pacific region is expected to grow the fastest in the global ammonium ferric citrate market during the forecast period, owing to rising pharmaceutical developments, an escalating population, a rapidly expanding urban sector, and increased revenue generated by the construction and automotive industries. Due to increased manufacturing, distribution, and export of ammonium ferric citrate to regions such as Europe and Latin America, China is expected to produce the most revenue. Due to the latter's distribution networks in the North American region, countries like Japan and India are anticipated to have a significant market share.

Key Players

Eminenco Pharma, West Bengal Chemical Industries Limited, Shreenath Chemicals, New Alliance Dye Chemicals Private Limited, West Bengal Chemical Industries Limited, and Devendra Kirti Pharmachem are some of the major competitors in the sector.

 

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